Inflation Signs: Bacon, cigarette prices increase
To many of the economic minds on Wall Street or in the White House, there is no price inflation whatsoever in the United States. Everything the Federal Reserve has done has tamed the marketplace and improved the overall economy. That is unless you shop for groceries.
According to the Department of Labor (via the Wall Street Journal), an array of items has increased in cost:
– Cigarettes: up 50 percent in the last five years
– Bacon: climbed 30 percent since 2008
– Peanut Butter: rose 37 percent in five-year period
– Long-distance calls: increased 44.5 percent
There were products that did fall in price. However, it had more to do with technological innovation: computers, televisions and gas utilities.
We have also reported on how chicken prices have increased in the last two years, pork prices have risen throughout the past two years and turkey prices alone have jumped 14.36 percent.